Ripple’s Chris Larsen Sends $26 million XRP to Coinbase as Token Nears High

* Chris Larsen transferred $26 million worth of XRP to Coinbase. * XRP approaches its all-time high following key legal and strategic milestones for Ripple. On July 17, 2025, Ripple co-founder Chris Larsen transferred $26 million worth of XRP to the cryptocurrency exchange Coinbase. According to The Block on July 17, this transfer occurred as XRP approaches its all-time high of $3.40, a record set in January 2018. The sizable transfer is the latest in a months-long pattern of significant sales by Larsen, which coincides with increased market momentum for the token. Since January 2025, Larsen has moved an estimated $344 million worth of XRP from his wallets to various exchanges, often aligning these transfers with key market developments. For instance, Ripple reached a $50 million settlement with the U.S. Securities and Exchange Commission (SEC) in June. This agreement resolved a protracted legal dispute and removed regulatory uncertainty, emboldening Ripple’s strategic initiatives such as its $1.25 billion acquisition of prime brokerage firm Hidden Road in April, which aims to bolster its financial services portfolio. As part of its broader expansion efforts, Ripple is actively pursuing a national bank charter while also deepening partnerships within the financial sector. A prominent example is its collaboration with BNY Mellon, which custodies reserves for Ripple’s RLUSD stablecoin. As of July 2025, RLUSD reserves total $500 million, a figure that highlights Ripple’s evolving role in the digital assets ecosystem. According to CoinMarketCap on July 17, 2025, XRP was trading at $3.33 as of 18:14 UTC. This price reflected a 10.07% increase in 24-hour trading volume.